by Calculated Risk on 1/30/2024 04:29:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family Serious Delinquency Rate Increased Slightly, Multi-family Unchanged in December

Brief excerpt:

Single-family serious delinquencies increased slightly in December, and multi-family serious delinquencies were unchanged.
...
Freddie Mac reports that the multi-family delinquencies rate was unchanged at 0.28% in December, and up from 0.12% in December 2022.

This graph shows the Freddie multi-family serious delinquency rate since 2012. Rates were still high in 2012 following the housing bust and financial crisis.

The multi-family rate increased following the pandemic and has increased recently as rent growth has slowed, vacancy rates have increased, and borrowing rates have increased sharply. This will be something to watch as more apartments come on the market.

There is much more in the article.